Movida Participações (MOVI3) Q3 2025 earnings summary

Executive summary

• Achieved record EBITDA of R$1.5B in 3Q25, up 18.5% year-over-year, and net income of R$70M, with guidance for 4Q25 net income between R$75M and R$90M, the highest in three years.

• ROIC reached 14.4%, the highest in three years, exceeding the average cost of debt by 4.1 p.p.

• Leverage reduced to 2.7x Net Debt/EBITDA, the lowest in five years, with a strong cash position of R$3.3B.

• Strategic focus on pricing recovery, operational efficiency, digital initiatives, and capital allocation to Fleet Management and Outsourcing (GTF).

• Launched a new loyalty program with over 2.4 million members, expanded self-service kiosks, and opened express maintenance centers to enhance customer experience.

Financial highlights

• Net revenue in 3Q25 was R$3.77B, stable year-over-year; 9M25 net revenue grew 7.6% to R$11.01B.

• EBITDA margin reached 72.6% in 3Q25, up 2.3 p.p. year-over-year; EBIT rose 22.6% to R$854M.

• Net income for 3Q25 was R$70M, down 10.5% year-over-year; 9M25 net income up 27.6% to R$216M.

• Free cash flow from rental activities in 3Q25 was R$1.1B, up 10.3% year-over-year.

• Net financial result was a negative R$795M in 3Q25, impacted by higher debt and interest rates.

Outlook and guidance

• 4Q25 net income guidance of R$75M–R$90M, representing 21%–45% growth over 4Q24.

• Leverage expected to remain between 2.6x and 2.8x Net Debt/EBITDA in 4Q25.

• Full-year 2025 net income expected between R$291M–R$306M, up 26%–32% from 2024.

• Focus remains on sustainable profitability, customer satisfaction, and value creation.